Can I retire at age 56 with 8,600,000?

Use the below retirement simulation to view the chances of a successful retirement.
Confused? Try the simple retirement calculator
About Your Retirement ?
Current Age
Retirement Age
Current Savings $
Annual Deposits $
Annual Withdrawals $
Stock market crash:
Portfolio ?
% in Stocks:
% in Bonds:
% in Cash:
Modify Stock Returns:
0%
Modify Bond Returns:
0%
Modify Cash Returns:
0%
Modify Inflation:
0%
How much money do I need to retire?

This retirement calculator runs simulations based on past data from the S&P 500, 10 Year Treasury Bond, 3 month T-Bill, and US inflation. For each year of each simulation, a random return and inflation amount is chosen.

How to use: Enter your current age and the age when you retire. Then enter your current savings, the amount that you can save annually before you retire, and the amount that you plan to withdraw after retirement. Your annual deposits and withdrawals take inflation into account. For example, if you need $50,000 to live on in retirement using today's dollars, we will automatically take into account the cost of living for your retirement years. The same is true for your annual deposits. Next, decide if you'd like to simulate a stock market crash.

In the portfolio section, choose the makeup of your portfolio with stocks, bonds, and cash. Cash assumes that your money is stored in a savings account. You can then alter the future returns and inflation. For example, if the market has historically returned about 10%, but you think the future will be worse, modify the stock returns by -3%, and the future returns will average out to 7%. Investment fees can also lower stock market returns. Many index funds and ETFs offer extremely low fees and expenses.

Many people receive income in retirement, such as social security, pension plans, part time jobs, annuities, and other benefits. This would allow you to take out smaller distributions every year. Please note that taxes must also be considered, but are not used in this simulation. A 401k, Roth IRA, and Traditional IRA are taxed differently than a standard investment account, as are dividends.

Note: This assumes that the future is at least somewhat like the past. In reality, anything could happen. The Soviet Union collapsed, Japan's Nikkei Index is still well below its 1989 peak. Numerous other markets have changed drastically and never recovered. However, this online tool is helpful in retirement planning and estimating how much you might need for retirement, especially those hoping to retire early. We recommend receiving advice from a financial planner.

Want to retire with $8,600,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.4%
1 years$710,180$703,854$697,682$691,658$685,776$670,560
2 years$351,574$345,026$338,681$332,528$326,560$311,309
3 years$232,055$225,479$219,149$213,054$207,183$192,374
4 years$172,307$165,751$159,484$153,493$147,765$133,511
5 years$136,467$129,951$123,766$117,898$112,328$98,670
6 years$112,582$106,114$100,022$94,284$88,882$75,833
7 years$95,528$89,115$83,118$77,516$72,285$59,848
8 years$82,743$76,388$70,491$65,026$59,967$48,139
9 years$72,804$66,509$60,714$55,388$50,501$39,272
10 years$64,858$58,625$52,932$47,745$43,029$32,387
11 years$58,361$52,190$46,600$41,552$37,007$26,938
12 years$52,951$46,843$41,357$36,447$32,069$22,558
13 years$48,376$42,332$36,949$32,177$27,965$18,994
14 years$44,459$38,479$33,199$28,563$24,514$16,065
15 years$41,066$35,151$29,974$25,473$21,584$13,638
16 years$38,101$32,251$27,176$22,809$19,076$11,613
17 years$35,488$29,702$24,729$20,493$16,914$9,915
18 years$33,167$27,446$22,575$18,469$15,039$8,483
19 years$31,093$25,436$20,666$16,688$13,405$7,271
20 years$29,229$23,637$18,966$15,114$11,973$6,242
21 years$27,544$22,017$17,445$13,717$10,715$5,366
22 years$26,015$20,552$16,078$12,472$9,604$4,618
23 years$24,621$19,222$14,846$11,359$8,621$3,978
24 years$23,344$18,009$13,730$10,360$7,749$3,429
25 years$22,172$16,901$12,716$9,461$6,973$2,959
26 years$21,092$15,884$11,794$8,651$6,281$2,554
27 years$20,093$14,949$10,952$7,918$5,663$2,206
28 years$19,168$14,086$10,181$7,255$5,110$1,906
29 years$18,307$13,289$9,474$6,653$4,614$1,648
30 years$17,506$12,550$8,825$6,106$4,169$1,425
31 years$16,758$11,864$8,227$5,607$3,769$1,232
32 years$16,058$11,225$7,676$5,153$3,409$1,066
33 years$15,401$10,631$7,167$4,739$3,086$923
34 years$14,785$10,076$6,697$4,360$2,794$799
35 years$14,205$9,556$6,261$4,014$2,530$691
36 years$13,659$9,070$5,857$3,697$2,293$598
37 years$13,143$8,615$5,482$3,406$2,078$518
38 years$12,656$8,187$5,134$3,139$1,884$449
39 years$12,195$7,785$4,810$2,895$1,708$389
40 years$11,758$7,407$4,508$2,670$1,549$337
41 years$11,343$7,051$4,227$2,463$1,406$292
42 years$10,949$6,715$3,965$2,273$1,276$253
43 years$10,575$6,398$3,721$2,099$1,158$219
44 years$10,218$6,099$3,493$1,938$1,051$190
45 years$9,878$5,816$3,279$1,790$954$164
46 years$9,554$5,548$3,080$1,653$866$142
47 years$9,245$5,294$2,894$1,527$786$123
48 years$8,950$5,054$2,719$1,411$714$107
49 years$8,667$4,826$2,556$1,304$649$93
50 years$8,397$4,610$2,403$1,205$589$80

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $8,600,000, adding $3,393 every year, while hoping to spend $31,142 every year in retirement. These numbers increase with inflation.
Reality usually performs much different than the expected returns. This uses historical averages, but anything can happen. In general, riskier investments have greater returns on average, but more volatility in the short term.
Age Total: 100% Stocks Total: 100% Bonds Total: 100% Cash Total: 48/40/12 Blend
55$8,600,000$8,600,000$8,600,000$8,600,000
56$9,480,700$9,024,900$8,891,600$9,904,241
57$10,414,596$9,433,985$9,156,334$10,605,379
58$11,442,707$9,862,072$9,428,892$11,362,711
59$12,574,608$10,310,058$9,709,505$12,184,296
60$13,820,852$10,778,885$9,998,408$13,076,140
61$15,193,067$11,269,539$10,295,843$14,044,837
62$16,704,067$11,783,054$10,602,061$15,097,629
63$18,367,970$12,320,512$10,917,318$16,242,471
64$20,200,335$12,883,048$11,241,879$17,488,102
65$22,218,303$13,471,851$11,576,017$18,844,122
66$24,440,766$14,088,169$11,920,010$20,321,082
67$26,888,541$14,733,306$12,274,147$21,930,577
68$29,584,566$15,408,631$12,638,724$23,685,351
69$32,554,117$16,115,580$13,014,047$25,599,414
70$35,825,048$16,855,654$13,400,428$27,688,170
71$39,428,052$17,630,430$13,798,192$29,968,555
72$43,396,951$18,441,559$14,207,669$32,459,194
73$47,769,016$19,290,771$14,629,202$35,180,570
74$52,585,317$20,179,880$15,063,141$38,155,212
75$57,891,112$21,110,787$15,509,849$41,407,903
76$63,736,274$22,085,485$15,969,698$44,965,906
77$70,175,762$23,106,061$16,443,071$48,859,216
78$77,270,136$24,174,705$16,930,360$53,120,833
79$85,086,135$25,293,710$17,431,972$57,787,073
80$93,697,300$26,465,481$17,948,322$62,897,898
81$103,184,674$27,692,539$18,479,841$68,497,287
82$113,637,563$28,977,526$19,026,968$74,633,642
83$125,154,381$30,323,211$19,590,158$81,360,239
84$137,843,576$31,732,497$20,169,876$88,735,718
85$151,824,658$33,208,426$20,766,604$96,824,632
86$167,229,323$34,754,189$21,380,835$105,698,043
87$184,202,698$36,373,128$22,013,077$115,434,183
88$202,904,711$38,068,749$22,663,853$126,119,184
89$223,511,599$39,844,725$23,333,699$137,847,876
90$246,217,574$41,704,909$24,023,170$150,724,673
91$271,236,653$43,653,336$24,732,833$164,864,549
92$298,804,683$45,694,241$25,463,275$180,394,105
93$329,181,562$47,832,060$26,215,095$197,452,752
94$362,653,694$50,071,443$26,988,914$216,194,017
95$399,536,695$52,417,269$27,785,367$236,786,973
96$440,178,371$54,874,648$28,605,110$259,417,821
97$484,962,000$57,448,940$29,448,815$284,291,632
98$534,309,949$60,145,764$30,317,176$311,634,267
99$588,687,667$62,971,009$31,210,905$341,694,488
100$648,608,072$65,930,852$32,130,733$374,746,291